The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1887-11-19
How to Get Rich.

Gen. Benz. F. Butler responds as fol-
lows:
A difficult task is set me, as circum-
stances under which young men COM
mence life are SO widely varied. But
| think that more young men fail in the
investment of what they earn or receive
than In any other way to acquire prop
erty. The temptations to speculate are
SO great, and the desire to become sud-
denly rich SO strong, that | believe
eight out of ten, if not more, of young
men are wrecked at the very beginning.
If young man is earning something
more than the expense of his living,
and has no object in veiw, he is likely
either to increase those expenses care
lessly or to loan his money to his friends,
and in so doing in the majority of cases
he will lose both friends and money!
So that the best thing that he can do is
to have an object, gather up his money,
and to have call tor it which shall be
a profitable one. He makes no invest
ment because he says, 81 have got SO
little money that it won't come to any,
thing. will wait until | get more p"
and in waiting, generally, what he has
goes.
When young man has very little
money, let him buy some property, pref
erably piece, however small, according
to his means, of improved real estate
that is paying rent. He had better buy
1t when sold at auction, under a Judi
clal sale, paying in cash what he can,
giving his notes Tor the balance In small
sums coming due at frequently recurring
intervals, secured by mortgage on the
property, and then use all his extra in
come In paying up those notes. 1t is
always safe to discount your own note,
and if the notes come little too fast,
as soon as he gets anything paid his
friends will aid him when he is putting
his money where it cannot be lost, and
where the property is taking care of
the interest, and in a very short time
will find that he has got a very consid-
erable investment. He will become
interested in it, save his money to meet
his notes, and he will directly come
into considerable possession of prop
erty, and hardly know how it came to
him. That is, he will have had a mo-
tive for saving, and will get the result
OF that saving, and will not be tempted
to enter into speculations. Nothing is
so safe for an investment as improved
real estate. Nothing is likely to grow
in value faster. In the last SO years
90 per cent. of all the merchants and
traders in Boston have failed. In the
50 years 90 per cent. of all the business
firms have failed or gone out of business,
so that their stock has been wiped out.
In the last 50 years all the improved
real estate on the average has paid its
interest and taxes and quadrupled in
gfae-nlmFsa sanyrnMg to start fih f6fifs- IN the
world, he had better invest it in that
way and let it accumulate and earn his
living, and he will be richer than if he
had gone into business. Jay Gould is
said to have started from mouse trap
seller to become a millionaire. Assum-
ing that to be true, he is only one of
90, 900, 900 of people and if any young
man thinks that he is going to initiate
Jay Gould, there are 90, 900, 900 chances
to one that he won't succeed.
The rule l would lay down for a
young man is, never do mean thing
for money. Be careful to have no in
terest account running against you, un-
less you have an equal or greater inter-
est account running in your favor
Work diligently, and you are sure of
a competency in your old age; and as
early as possible, if you can, find
saving, prudent girl who has been
brought up by mother who knows how
to take care of house, and make wife
of her. She will aid, and not hinder
and will relate you an lncluent III my
own experience to illustrate it: In my
earliest practice in my profession was
quite successful in earning money, and
| had a small balance in the Lowell
Bank, at the head of which was MIR.
lanes G.. Carney. The bank was d.
rectly across the hall from my Office
| stepped into the Bankto deposite ALT
tie money on one occasion, and Mr..
Carney said to me: "Why don't you
invest your money!" Invest," said
1; 81 have nothing to invest. ooh,
yes," he says 'you have quite little
sum of money, and l see that your
Young friends come with your checks
occasionally, evidently borrowing it
Now you had better invest it," "How
can | invest it2'' "Invest it in real
estate" "I know nothing about real
estate" "Go to the first auction and
buy the property. You cannot be much
cheated in that, because you will have
to give very little more than somebody
else will be willing to pay for it. Give
your notes for it, save your money, col
lect your fees, pay your notes as they
become due. See that the property is
improved property, SO that the rent
will keep down your interest account,
and when you get any other money in
vest it in the same way, and IT your
notes press upon you little faster than
you can pay them, why we will, when
we find that is what you are doing with
your money, discount your note and
give you little more time, SO that you
can pay it up. This will necessitate
the prompt collection of your bills, for
know that you would rather work and
earn a hundred dollars than dun a man
for it, unless you have a pressing need
for it. You have not even asked for a
little bill that we owe you in the bank,
which shows me that you do not prompt
ly collect your dues" followed the
advice and bought number of pieces
of property in that manner, and never
did exactly know how they were paid
for, but they were, and in few years
owned some twenty different pieces o.
| that way. l can only say that l wish
had been wise enough to have continue
ed this course through life.
| do not think that need to extene
these suggestions any further, becaus'
if a Young man won't mind these, n